Issues on Solana Network and the Status of SOL

Solana (SOL) has been struggling with an intense demand driven by the recent popularity of meme coins. Observations on April 4 revealed that 75% of transactions on the network failed. Users expressed their disappointment with the increasing network issues on social media. The Solana community is divided on the reasons for these issues. Some point to fundamental network issues, while others blame spam bots. Division of Opinion in the Solana Community Different opinions within the community have led to the consideration of various solutions. Ideas such as increasing transaction prioritization fees are being discussed. Solana CEO Anatoly Yakovenko acknowledges the difficulty of addressing network issues, with hopes of resolving some problems with the upcoming 1.18 update. Impact on SOL Price Performance These issues have negatively impacted SOL’s price performance. SOL lost approximately 5.68% in the last 24 hours and nearly 5% over the past 7 days. As a result, SOL […]

Issues on Solana Network and the Status of SOL

Solana (SOL) has been struggling with an intense demand driven by the recent popularity of meme coins. Observations on April 4 revealed that 75% of transactions on the network failed. Users expressed their disappointment with the increasing network issues on social media. The Solana community is divided on the reasons for these issues. Some point to fundamental network issues, while others blame spam bots.

Division of Opinion in the Solana Community

Different opinions within the community have led to the consideration of various solutions. Ideas such as increasing transaction prioritization fees are being discussed. Solana CEO Anatoly Yakovenko acknowledges the difficulty of addressing network issues, with hopes of resolving some problems with the upcoming 1.18 update.

Impact on SOL Price Performance

These issues have negatively impacted SOL’s price performance. SOL lost approximately 5.68% in the last 24 hours and nearly 5% over the past 7 days. As a result, SOL has dropped to fifth place in terms of market value.

Useful Information for Readers

The current transaction failure rate on the Solana network is 75%.
Users are disappointed with the network’s performance issues.
There are various suggestions for resolving network issues, such as increasing transaction prioritization fees.
Solana’s upcoming update aims to address the current issues.
The market value and price performance of SOL have been negatively affected by network issues.

In conclusion, the network issues faced by Solana and the pressure created by meme coin demand are negatively affecting SOL’s market performance and causing concerns within the community. The upcoming update is seen as a solution to these problems.

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